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Young at Heart March 2021

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Social Dancing for solos and couples Peggy Pollard, Teacher Peggy@WaltzTribe.com www.WaltzTribe.com www.PeggyDance.weebly.com Santa Cruz Waltz & Swing online dances & lessons Waltz Tribe membership Grow your mind, body & soul Dance to music you love Sign up Now for up-coming Classes! *Consult a tax specialist. Dan Casagrande NMLS#5601104, Synergy One Lending Inc. d/b/a Mutual of Omaha Mortgage. NMLS ID 1025894. 3131 Camino Del Rio N190, San Diego. Licensed by the Department of Business Oversight under the California Residential Mortgage Lending Act. License 4131356: These materials are not from HUD or FHA and the Document was not approved by HUD, FHA or any Government Agency. Subject to credit approval. www.nmlsconsumeraccess.org I will answer your questions by phone, email or in person. Call today for a free no-obligation quote. P 831.423.2900 PRESIDENT'S PLATINUM CLUB 2013-2020 2013-2020 TOP VOLUME PRODUCER • Reverse Mortgage FHA lending limit is now $822,375. Now may be the time to do a reverse mortgage or refinance your current reverse or forward mortgage at historically low interest and MIP rates. • Additionally, our Jumbo Reverse Mortgage Program may offer you a loan amount up to $4,000,000. Tax-free cash! Money to help you, your family members, or other loved ones. do because I'm coming here." It's been a challenge staying connected to fitness and the gym's community throughout the pandemic. However, West for more than a year now continues to offer Zoom classes and since June holds classes outside. "This last year, this com- munity -- and my wife -- have kept me whole," McKoy said. John Van Every, a retired optometrist, just returned to West after the year-long pandemic hiatus. The 75-year-old stayed active using a Peloton bicycle at home, but it wasn't quite the same. "I'm happy to get back into it," Van Every said. "The camaraderie for an aging person, this is great." Van Every who has had open-heart surgery, a new hip and whose knees can't take the pounding of run- ning anymore continues to be an avid fly fisherman and does what he can to keep up with his kids and grandkids. "You have an internal strength you don't know you have," he said. Kim Justice Meyer who is a younger participant at 62 years old attends the health class because it's a better pace for her. "This is such a loving, safe and COVID-compli- ant atmosphere," she said after class. "I was hesitant, I haven't worked out in 15 years." Justice Meyer said she was encouraged by her daughter to give the health class a try. Justice Meyer's goal is to lose a few pounds prior to a trip to Hawaii, but also to keep up with grandchil- dren. "I can go at my own pace here. Every time I feel stronger," she said. "It's a family here." That's exactly what Tal- bert is trying to create at West. "This population heavily benefits from commu- nity," she said. "That com- munity is crucial when you get into later life stages. It's so much more imminent for them." Outside of the gym, Talbert keeps in touch with participants through weekly emails. "I want them to know that someone is paying attention to them," she said. The ultimate goal, accord- ing to Talbert, is for them to maintain their indepen- dent living. "This class takes the functional piece of Cross- Fit and amplifies it," she said. During the COVID-19 pandemic, the face-to-face community took a hit. "It was so easy to get lost," Talbert said. "It gave me a whole new ap- preciation and drive to get people here. ... You see the value of fitness in a whole new life. It's not all about lifting heavier and going fast. It's about having a fuller, functional life. "I've always had a heart for marginalized people groups and this allows me to expand upon that," she added. The classes, according to Talbert are infinitely scalable. "We adapt to meet you where you are," she said. "It's the same workout (as the regular class) but it fits you where you are in your life." During class, McKoy made the deadlifting and running look easy. He did admit though that some everyday tasks can be challenging. "The hardest thing I do every day is put on my socks," McKoy said. "After the socks are on, everything else is gravy." To find out more about West Health, email Natalie Talbert at kenya. natalie@gmail.com Participants in West Health, geared for those 65 and older, learn the technique of different movements using a PVC pipe while they're outside and 6 feet apart. (Daniel Jahangard -- Contributed) Fighting... continued from page 1 Reverse Mortgages FAQ What is a reverse mortgage? The Home Equity Conversion Mortgage (HECM, also known as the reverse mortgage) was created in 1989 to help older homeowners meet the financial de- mands of retirement and aging in their home. It's a mortgage loan based on your home's value, the youngest borrow- er's age and the current interest rate. What makes the HECM so unique is that it requires no monthly mortgage payments, giving you access to funds without the finan- cial burden during your retirement years. You retain title (ownership) to your home as long as you meet the basic re- quirements of the loan. The loan is ultimately repaid when you, or the last surviving borrow- er (or non-borrowing spouse), pass away through the sale of the property or refinance by your heirs. Who is eligible? Homeowners with at least one borrower 62 years of age on title to the home and with sufficient equity may be eligible. The home must be the primary residence. A borrower's financial capacity and credit history are re- viewed to insure the long- term success of your loan and ability to pay ongoing property taxes and home- owner's insurance. Does my credit score affect eligibility? Your credit score is not the determining factor if you are eligible for a HECM. An applicant's overall credit history, income and existing financial obligations are considered to determine if a borrower has the finan- cial capacity to meet the ongoing obligations of the loan. In some instances, a set-side of available funds may be required to meet future property obliga- tions such as property taxes and insurance. Do I still pay property taxes and homeowner's insurance? Yes. Although the HECM doesn't require monthly mortgage payments, you are still required to keep making timely property tax and homeowner's insurance premium pay- ments just as you would with a traditional mort- gage. Do I still own my home or does the bank? You retain title and own- ership to the home just as you would with a tradi- tional mortgage. e only time a borrower could risk losing ownership to the home would be due to a loan default for failure to pay property taxes and homeowner's insurance or maintaining the property. Does my home have to be paid off? No. You can have an exist- ing mortgage balance and as long as the proceeds of the HECM are sufficient to pay off the existing mortgage, closing costs and fees, you may qualify. Is my property eligible for the HECM? e HECM is for sin- gle family, 2-4 unit multi-family, planned unit developments (PUD) and FHA-approved condo- miniums. In addition, the property must be the bor- rower's primary residence. How much money am I eligible for? e amount of your loan proceeds vary based on the age(s) of the borrow- er(s), current interest rate, the home's appraised value and the HECM loan product chosen. You will receive an estimate showing you possible loan proceeds for several loan programs. What costs and fees should I expect? Similar to traditional mortgages, the HECM costs include: origination fee, closing costs, third party fees and an upfront FHA insurance premium. Most of these costs can be financed into the loan limiting your out-of- pocket expenses. Appli- cants should anticipate out-of-pocket costs for an appraisal and required HECM counseling. Can I buy a home with the H ECM? Yes. FHA (Federal Housing Administration) allows for the purchase of a home in one transaction with the HECM purchase program. You can use the proceeds from the sale of your previous home or other cash for your down payment and finance the balance with the HECM. Your down payment is determined by the home's purchase value less avail- able HECM proceeds and loan costs. Even better, you don't have any month- ly mortgage payments for your new home! How can I get my cash proceeds? e HECM has several flexible payout options: a lump sum, partial lump sum payout, monthly installment payouts or a line of credit (or a combi- nation of these options). Your access to proceeds is limited in the first year, but you will have access to remaining funds aer this time. e unused funds in the line of credit are not charged interest until used and your available credit line may actually increase each month when unused. When is the loan repaid or due? Your HECM loan is not due and payable until one of the following occur: 1.e last surviving borrower (or included non-borrowing spouse) has passed away 2.e home is no longer the primary residence of at least one borrower (or non-borrowing spouse) 3.An absence by both borrowers for a period longer than 12 months 4.The borrower fails to pay property taxes and homeowner's insurance as required 5.The property is not maintained and dete- riorates to a condition deemed unreasonable by HUD. Who will help me with the process? Your Mutual of Omaha Mortgage advisor will walk you through every step required for your Home Equity Conver- sion Mortgage loan and answer any questions you may have. Call Today For More Information Dan Casagrande NMLS: #561104 Reverse Mortgage Specialist Cell (408) 297-0000 Office (831) 423-2900 1414 Soquel Ave. Santa Cruz, CA, 95062 dcasagrande@mutual- mortgage.com www.mutualreverse.com/ dan-casagra nde By Dan Casagrande

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